Not a bad article, but he attributed to some giant evil conspiracy by the banks something that was, in fact, simple economics. Banks weren't out to swindle peo

Not a bad article, but he attributed to some giant evil conspiracy by the banks something that was, in fact, simple economics. Banks weren't out to swindle people with all those 'new' investment funds, they were reacting to overwhelming demand from the managers of 80-something trillion dollars. That overwhelming demand was driven, in part, by the fed holding the discount window open for so long. If we remove the author's notion of 'evil' intent on the banks part, for which there is little to no evidence, and chalk it back to 'incompetence' instead, the author's article becomes a rehash basic economics and a lot of empty hyperbole. For a more dispassionate recap of the debacle, I'd recommend This American Life's article, the Global Pool of Money. http://www.npr.org/templates/story/story.php?storyId=90327686 http://www.npr.org/templates/story/story.php?storyId=9032768...